Respond to the following prompt and scenario:

• Differentiate between open-end and closed-end mutual funds. (Your response should be 1 - 2 paragraphs.)
• Now imagine that you bought a mutual fund that had a beginning NAV of $10 per share. It paid dividends of $0.50 and distributed capital gains of $0.75. After one year, the ending NAV is $9.50.What is your total return? (Do the math and use MS Excel or the tables tool in MS Word to make your calculations andshow all of your work. )

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